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W.Va. lawmakers to study N.D.'s oil/gas tax endowment

CHARLESTON, W.Va. -- A delegation of West Virginia lawmakers is planning a trip to North Dakota to learn more about its legacy fund.

Senate President Jeff Kessler said the trip is tentatively scheduled for late this summer. Members of the delegation will be named later.

The North Dakota Legacy Fund was created in 2011 and is funded by oil and gas tax revenue. It reached the $1 billion milestone in only 20 months.

Kessler has proposed a similar fund called the West Virginia Future Fund. He says a permanent endowment future fund will create wealth and opportunity that will last long after the natural gas is gone.

The trip stems from legislation that allows the leaders of both the House and Senate to appoint job creation workgroups.


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